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In the world of sports betting as well as other gambling endeavors, the key to long-term success is enshrined in good bankroll management. While there exist more than a few methods out there that could prove worthwhile, the most fundamentally sound strategy that should be prioritize is progressive betting.

What is progressive betting? Progressive betting is basically when you stick to a set amount for each bet depending on the size of your bankroll, then increasing the amount of money per bet as your profit grows from the starting point. Identical methods are being used alongside many instructional orders on other gambling-like games like craps, blackjack. The recommendation usually varies wildly depending on the author but I personally advocate a more conservative stance than the majority of these authors simply because they tend to endorse a too risky and unsafe strategy once you’ve managed to grow your bankroll.

When betting on sports, discipline does not come easy to implement for a sports bettor. It is a skill that must be conquered for you to have long-term success in sports betting, as long as you took the time and effort to establish handicapping insight that has demonstrated a consistent winning record.

Let me give you an example that utilizes an effective conservative approach while at the same time, allows you to keep good discipline. Keep in mind that when gambling, a certain amount of swings will always be involved, therefore, it is crucial to be able to withstand losing streaks that could erase any profit you previously made alongside your initial bankroll money you started with.

Let’s say you begin with a bankroll of $2,000 in which you could have probably deposit that money in a reputable online sports-book or keep this money set aside for your sports betting future activity. In that case, the recommended unit size should be $44 to win $40 for each game which amount to about 2% of your bankroll in play. More than a few experts would proceed in suggesting you to risk 4 or 5 percent but the risk with a higher figure will be the limitation of your flexibility should you hit a prolonged losing streak. It may eventually take time to build up your bankroll, but you should always remember that sports betting is more like running a marathon, not a print.

With everything stated above, let us say that you’re averaging 1 bet per day for a full year, and ended up with a very respectable overall record of 210 wins and 150 loses. After taking into account house juice for each bet, you are left ahead with about 50 units or an additional $2,000 on top of your initial investment. With that conclusion, your initial bankroll of $2,000 would have been doubled in a span of a year to $4,000.

Now that your bankroll is standing at $4,000, you could ante up your bet to $88 from the previous initial bet size of $44. So you will basically retain the same 2% of your bankroll put into play but you will now be yielding twice the amount of profit that you started with. Logic should take hold with the fact that since you were able to double your starting bankroll of $2000, you would have probably achieved a proven track record as for your betting performance, thus allowing you to risk even more of your bankroll.

With everything being said, you still do not want to go crazy here and put all your profit at risk by increasing your bet size too much. Instead of going big, a conservative unit size bump of about 3% would yield a much better win percentage while still having some type of protection against cold streaks to fall back on. In this case, you may start entering bets of $120 to win $110 for each game which is just about 3 percent of your precious bankroll.

If you decide to use the 3% method, all you’ll need to do is clear about 17 units to make your next $2,000 as opposed to the 50 units that would have been necessary to profit the same amount when you started.

As soon as you get more comfortable with this skill set and start seeing consistent positive results, the next step could be to start rating the quality of your picks and then incorporate it into a big strategy that could improve your betting system.

Let me give you another example to clarify things further. Let’s say your standard unit size is $44 per bet but on certain occasion, you feel more confident about certain games. In this case, you can announce that your confidence level for this particular game is so high that you will bet “2 units” instead of the original and standard “1 unit.” That should mean your wager would have to increase from $44 to $88 because it is now a 2 unit play. It is of course important to keep record of your larger unit size so that you know whether it is worth increasing your betting size. Unless you can demonstrate a winning rate of about 65% on those high confidence 2 unit size bet, it would not be worth going through with it. At this point, it would be best to keep it simple and fully go back to the original 1 unit size bet for all bets.

So remember, you should not force yourself to increase the size of your bet if the amount of money that would be needed makes you uncomfortable. Keep a performance track record so you know whether to discontinue certain part of your betting strategy. You will surely gain more experience and confidence as you go and this will allow you to be able to analyze your situation and make the needed fix when it requires it.

In the meantime, the best strategy that I would recommend to someone who is just getting started is to keep their wager at a consistent unit size, specially if it is showing a winning rate. There is simply no need to over complicate things too soon and risk losing it all because you got too greedy.

To consistently make profits over a long period of time in sports betting, you must not only make the right bets, but you also have to use your bankroll and keep control of your emotions. There is a tendency for people to ride a winning streak too hard and bet too much hoping to hit a super big payday. I have done it many times before I learned proper bankroll management.

Also, there is a tendency for gamblers to bet wildly amidst a losing streak to attempt to make a one bet comeback. This has spelled the death of many sports bettors that would have otherwise been on the path to profits. Improper money management can turn wins into losses and moderate losses into nightmares.

Both winning and losing streaks are a very real part of gambling. It is how you deal with these ups and downs that will determine just how well you’ll do at the end of the day.

That is precisely why money management is so critically important. When you are on a winning streak, you have to stretch those winnings to the maximum, but still safe level and make sure that you are a winner. And when things go the other direction, you must restrict losses to affordable amounts.

Money management takes a lot of discipline and for some people it probably takes some of the fun out of it too. But those are the people that must get a kick out of giving a lot of money to the sports books. Sports

Betting is very similar to investing in stocks or other financials in the way that money management can make or break the investor.

Man, by virtue of his instinct to survive, is naturally a gambler. Given the risks of living day-to-day life, it was considered an act of skill to stay alive until the sun sets, especially during the Stone Age. As the human race began to develop systems that would facilitate the physiological need of survival, the gambling instinct that was inherent in man did not dissipate. Rather, it became stronger with the passage of time.

The gambling instinct, simply put, is displayed early into the history of human civilization. The Romans were notorious for their fierce and unforgiving gladiator matches, which were mainly violent at least and visceral at best. By 80AD, the emperor Titus then conducted the first official ceremonies at the Colosseum, and thus the festivities had begun. Slaves were pitted against each other in mostly battles to the death, and sometimes against wild beasts as well. Spectators relished the thought of betting on their favorite gladiator, hoping that he would live to see the end of the glorious battle.

But as time progressed, the violence of the human sport had proved to be too much for some, and gambling has been reduced to animal fights. Of course, this has been around even before the human blood sport of gladiators, but they had become highly popularized in certain parts of Europe -particularly Spain, Portugal, the United Kingdom, France, and even some parts of Asia such as the Philippines and Indonesia. Among these fights were bullfighting, cockfighting, and fox hunting.

As European influence spread more and more all throughout the continents of the world, the thrill of betting soon became a worldwide phenomenon. Gradually, the hunger for the sight of blood was soon surpassed by the promise of amassment of wealth. The stakes were high, but made more appealing by the rise of establishments such as casinos. Betting was never more enjoyable.

But alas, the collected momentum of sports betting was halted abruptly by the coming of the two World Wars since activities such as race meeting and lotteries became severely restricted. Its return only came in the mid-1950s and soon flourished again.

Not to be outdone, sporting events still remained strong in gambling circles, as events such as horse races, basketball matches, and baseball games just seemed to beg for more incoming bets. The rise of communications technology also facilitated the development of sports betting, with phone betting becoming an attractive option to those who live far and away from the games. Companies such as Intertops in Antigua started this as far back as 1993.

When the Internet finally came out for public access and personal use, the betting world evolved into a more closely-knit community. Globalization served its purpose in connecting the world in ways previously thought inconceivable -after all, who would have thought that you can bet on a game halfway across the world with such ease? In 1996, a company in Gibraltar called Microgaming took advantage of this trend and began developing software for use in other gaming companies all over the world. Others soon followed suit, and thus online sports betting as we knew it was born.

If you were to search the internet for the various sports betting secrets and tips, you would find a lot of them. However, most of them completely miss the point. The point is that you have no no business burning through your saving account by betting too much money. Yes, gambling is fun but that does not mean that you should put your entire life savings into your gambling bankroll. Instead you should be starting with a very small amount and should do a lot of focused research. And by winning you will be able to gradually build on your bankroll. This would ensure that you are betting in the spirit of sports betting and not ruining your wealth. This could possibly be the most valuable piece of sports betting knowledge.

Secondly, you should never be doing guess work in this game because there is too much money involved. There has to be a reason for a team to win or lose, you should be looking at that reason while you are deciding on a bet. Now, you can only look through these reasons when you would know about the game. Hence bet on the games that you know. This would give you a better judgment power while studying the different angels of the game. The knowledge of the game that you are betting on is a valuable tool that will most often be the difference in winning and losing. The more you would know about a game, the better your chances are to win, it is just simple common sense.